BGS Energy Plus announces the acquisition of a 40% stake in a project company for 590 KW biogas plant

The Management Board of BGS Energy Plus announces that on 23 February 2011 the company signed an agreement with Mr. Haskovec and Mr. Vagner to acquire a 40% equity interest in the project company Mlýn Okoř, s. r. o., which holds all project rights for 590 KW biogas power plant located in the municipality of Skůry. The total acquisition price was CZK 0,4 mio (EUR 16,000.-).

Total investment costs of the biogas plant will amount to CZK 56 mio (EUR 2,284). The company has already received a decision from the state that the project will receive a subsidy of 30% of total investment costs, which means CZK 16,8 mio (EUR 0,685). Agrostav a.s. is a general contractor where the fully-owned subsidiary BGS Biogas a.s of BGS Energ Plus will deliver technology and services in the amount of CZK 33 mio (EUR 1,346 mio).

BGS Energy Plus and its board members are unrelated to Mr. Haskovec and Mr. Vagner and to the principals of Agrostav a.s.